It’s a season of extremes this spring in the Sunnyvale real estate market! Buyers are competing against multiple offers for practically every listing in this raging seller’s market. Here are a few quick points from the single family home market below:
- The sale to list price ratio is blazing with homes selling on average at 114.8% of asking. That’s a red hot sellers market!
- Properties continue to sell lightning fast in an average of only 10 days.
- Active inventory falls short of where it was a year ago, but sales and sales pending are way above this time last year.
First a quick note before we dive into the Sunnyvale market trends and statistics. A lot has changed since March 2020 and while a reaction to the pandemic is visible in this data and analysis it will take a long time for us to see the full impact on the market. To read more about how the pandemic has affected real estate sales, please read my post: Coronavirus impact on real estate sales.
Last spring, the Multiple Listing Service (MLS) stopped the timer on all Days on Market (DOM) between March 17th through roughly May 17th. In the data below, this will affect any numbers related to the days on market, the absorption rate, and the days of inventory for those past months, but not current data.
Sunnyvale Real Estate Market Trends and Statistics
The Sunnyvale realty market varies by location (east of El Camino is generally not as desirable as west of it), school district (the portion with Cupertino schools is likely the strongest part of the market), and price point. Being too close to train tracks, being in a flood plain, or other location issues will make it more challenging to sell. Every property is unique, so take all these averages and trends with a grain of salt! This data is not meant to pinpoint the pricing on any individual home, but to understand the direction the market is heading. And on that note, let’s dive right in!
The Real Estate Report numbers for Sunnyvale (entire city), single family homes
Feel free to visit the same statistics, trends, and more at my ReReport page.
(If you’re viewing this on a mobile phone, swipe horizontally to see the full chart if it goes off the screen.)
Sunnyvale realty market statistics
|Trends At a Glance||Jun 2021||Previous Month||Year-over-Year|
|Median Price||$2,300,000 (+10.3%)||$2,085,000||$1,925,000 (+19.5%)|
|Average Price||$2,221,670 (+4.3%)||$2,129,800||$1,928,950 (+15.2%)|
|No. of Sales||63 (+5.0%)||60||43 (+46.5%)|
|Pending||85 (0.0%)||85||53 (+60.4%)|
|Active||31 (0.0%)||31||47 (-34.0%)|
|Sale vs. List Price||114.8% (-0.7%)||115.5%||102.2% (+12.2%)|
|Days on Market||10 (-0.3%)||10||17 (-38.3%)|
|Days of Inventory||14 (-7.9%)||16||32 (-55.0%)|
June was significantly hotter this year than in 2020, and it’s surprisingly stable month-over-month. Sales grew an inch, while pending sales and active inventory have remained constant from the month before. Available listings are low year-over-year, and both pending and sold listings are rocketing past 2020 sales. Homes continue to sell at breakneck speeds with a 10 day average, and offers are soaring above asking with a blazing hot average sale to list price ratio of 114.8%. It is a raging hot seller’s market for Sunnyvale homes!
You may also want to see how Sunnyvale stacks up to other communities in Santa Clara County. If so, click to see the PDF Real Estate Report for Santa Clara County, updated monthly.
Next up, the live data from Altos Research, updated weekly (uses LIST prices, not sale prices FYI)
As of the latest update (July 8th) the chart shows that Sunnyvale is in a strong seller’s market with high market action beginning to decline. Homes are listed from around $1-$2.5 million on average.
Want more info on the weekly trends and stats? You can view Altos data and analysis on Sunnyvale as a whole OR by zip code.
What about the Sunnyvale condo and townhome market?
The real estate market for the condominiums and townhouses in Sunnyvale is heating up right now, much like the housing market.
The closed sales (as seen on the Sunnyvale RE Report for condos and townhomes) show that properties are selling close to list price in this segment of the market, but are nowhere near as hot as houses.
Sunnyvale Condo & Townhouse Market Trends at a Glance
|Trends At a Glance||Jun 2021||Previous Month||Year-over-Year|
|Median Price||$1,245,500 (-14.1%)||$1,450,000||$1,140,000 (+9.3%)|
|Average Price||$1,221,920 (-8.3%)||$1,332,130||$1,136,400 (+7.5%)|
|No. of Sales||46 (+12.2%)||41||15 (+206.7%)|
|Pending||58 (+3.6%)||56||29 (+100.0%)|
|Active||41 (+10.8%)||37||30 (+36.7%)|
|Sale vs. List Price||105.4% (-1.1%)||106.5%||99.2% (+6.2%)|
|Days on Market||18 (+9.4%)||17||25 (-26.3%)|
|Days of Inventory||26 (-4.5%)||27||58 (-55.4%)|
Sunnyvale condos are in a calmer market than houses, following similar trends, but with smaller overbids and longer days on market. This is still a red hot seller’s market. Condos have a growing inventory that’s risen above last year. Both sales and sales pending have also increased from the month before, and year-over-year they have tripled and doubled respectively! The sale to list price ratio slipped a little to a hot 105.4% and homes are selling in an average of 18 days. This is a hot seller’s market, though somewhat milder than the single family housing market.
And finally, the live Altos Research info (updated automatically each week – using list prices, not sold prices)
In the most recent update (as of writing, July 8th), condos are in a strong sellers market with shrinking market action and rising active inventory.
Use this link to see the Altos weekly report for condos and townhomes in the City of Sunnyvale, or navigate to your preferred zip code there or anywhere in the region. Like the info? Sign up to get it in your email box each week.
Sunnyvale, like the rest of Santa Clara County, has its own micro markets. The areas by 237 and 101 will be a different home selling or buying experience than those west of El Camino Real or along the Los Altos border. Want to buy or sell in Sunnyvale? Please call or email me to set up a time to meet or talk by phone (no obligation, no pressure – I dislike pushy people as much as you do).
Do you find this kind of info useful? If so, I’d love to hear from you – my email address is firstname.lastname@example.org. Please tell your friends, especially if they are interested in buying or selling residential property here!